Huobi Global investing $1B in DeFi and Web3
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read original article for precise information.
Exchange of cryptocurrencies Ivy Blocks, a DeFi and web3 blockchain ecosystem investment arm of Huobi Global, was established today. According to Huobi, Ivy Blocks will invest in promising blockchain initiatives to help them reach their full potential.
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth,” Lily Zhang, Huobi’s CFO, stated. “Our focus on providing such projects with liquidity investments and incubation services will no doubt contribute toward creating a better, more inclusive DeFi and web3 blockchain ecosystem.”
With its “multi-billion dollar war chest,” Ivy Blocks will take advantage of crypto prospects in worldwide markets, according to Huboi. According to CoinTelegraph, a Huobi spokeswoman stated that the new investment arm has more than $1 billion in crypto assets under management to deploy.
Capricorn Finance, an automated market maker based on the Cube blockchain, was also the first to accept an investment on Friday. This occurs at a time when the industry’s overall value has plummeted by more than half. According to industry estimates, the DeFi industry is worth around $133 billion in total. DeFi TVL was valued at $316 billion in December 2021.
Read related posts:
- NASA launches a VR challenge to help send astronauts to Mars
- Twitter co-founder Jack Dorsey announces new Web5 platform built on Bitcoin blockchain
- Catawba Nation establishing crypto-focused Special Economic Zone
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.